How to Add a Budget

Budgeting is an essential financial practice that helps individuals and organizations manage their money effectively. By allocating specific amounts to various needs or projects, users can control spending, save for future goals, and ensure financial stability. A common rule for setting a budget is the "50/30/20 rule," where 50% of your income is allocated to necessities, 30% to wants, and 20% to savings or debt repayment. This app's budgeting functionality provides tools to create, manage, and monitor budgets and sub-budgets, offering users a clear picture of their financial activities and remaining balances.

Everyone's lifestyle and income vary, so the "50/30/20 Rule" may not be suitable for everyone. How do you create a budget plan that works for you?

Step 1: Go to the Budget tab

Step 2: Click "+ Add" at the top right corner

Step 3: Set the fields

• Icon (Optional)

• Title (Required)

• Main Currency (Required)

• Total Balance (Required)

• Frequency (Either one of the following)

  • Single Interval

    • Start time

    • End time

  • Repeat Cycles (new Budget will be created automatically when the current one expires)

    • Start time

    • Interval, eg.) Every 2 months, Every 2 weeks

• Apply Previous Budget (Only useful for Repeating Budgets)

  • Add the remaining budget to the next budget cycle

  • For example, if your living budget is $2,400 and you have $200 left at the end of the month, it will carry over to the next month, $2,600 in total.

• Show on Home

  • If set to true and the budget is not archived, this budget will be considered in the calculation of "Available Balance" in the Home page

• Archive

  • If set to true, the budget will become inactive, no transactions can be assigned to it.

  • Expired budget will be archived automatically